Hong Kong

Most are only willing to cut rents by 10% to 20% instead of the requested 50% by retailers.

An increase in the number of vegan restaurant partners has also been seen.

Jewellry, watches and clocks and valuable gifts saw the sharpest decline.

Some food service chains have reduced operating hours.

The 56 stores contributed to less than 4% of its 9M FY2020 revenue.

Around 19,000 applications were accepted in the subsidy scheme.

Amongst markets in the region, Hong Kong has been taking out food the most.

Around two-thirds of new partner restaurants have joined the pickup service.

The sector took a blow from the COVID-19 pandemic.

Rapid advances in mobile technology and Internet accessibility are revolutionising shoppers’ behaviour, with digital-savvy consumers driving fundamental change in businesses and the market. Relevant trends and the need for commerce to keep up with them to stay relevant were underlined at a seminar themed “Top 5 Global Digital Consumer Trends in 2018”, held during the 33rd HKTDC Hong Kong Gifts & Premium Fair.

FASHIONALLY.com, a website dedicated to the promotion of Hong Kong fashion, will organise an "unprecedented" retail event at PMQ mall starting from April 27. Titled 23 Senses, it will be held over the following three weeks to introduce to the public some of Hong Kong’s finest designers, including familiar names as well as newly launched labels.

Pakpobox Hong Kong Limited -- which provides intelligent products, services and solutions based on the Internet of Things -- recently closed its pre-Series A funding round for US$1.2 million led by Infinity Venture Partners, a Japan-based VC. SQ Capital Group and The Aria Group also took part.

Small and medium-sized enterprises (SMEs) in Hong Kong can now tap the rapid growth of the Chinese mainland’s B2B e-commerce market by taking advantage of a new online promotion by the Hong Kong Trade Development Council (HKTDC) -- a statutory body dedicated to creating opportunities for the territory’s businesses.

Renowned French urban artist Invade brought his art to Hong Kong once again with a new series of 32 mosaic artworks in September 2017. For the first time, he invaded Harbour City, the largest shopping mall in Hong Kong, installing 18 of them on various walls around the mall.

French luxury beauty brand Lancôme Travel Retail Asia-Pacific launched a Holiday Wonders pop-up concept at Hong Kong International Airport (HKIA) last month.

Checkpoint Systems, a global supplier of merchandise availability solutions for the retail industry, recently announced the launch of a series of revolutionary loss prevention and data analytics solutions at its Innovation Session held in Hong Kong.